BIR beats target, collects P530 billion in 2 months

MANILA, Philippines — The Bureau of Internal Revenue (BIR) exceeded its two-month revenue target while remaining optimistic about achieving its full-year goal in 2026 despite global shocks.

The agency said it logged net revenue collections of P530.06 billion in January and February.

The amount surpassed its P527.78-billion internal collection goal by 0.4 percent, net of tax refunds, resulting in a P2.28 billion surplus.

This also translated to a P15.31-billion or nearly three-percent increase over the P514.748 billion collected in the first two months of 2025.

The BIR attributed this to “steady improvements from intensified tax administration, stronger enforcement efforts and ongoing measures to boost taxpayer compliance nationwide.”

The P330.06 billion net revenue accounts for nearly 15 percent of the P3.58-trillion target for the full year of 2026.

However, the Development Budget Coordination Committee pegged the BIR’s target intake at P3.431 trillion based on its December meeting.

“Despite global economic headwinds, the BIR remains optimistic and firmly committed to sustaining revenue growth and meeting its 2026 goals,” the BIR said.

The bureau said it would uphold its mandate by adopting a balanced, citizen-oriented strategy, mobilizing the revenues essential to support progress while protecting taxpayers’ rights and strengthening stakeholder trust and confidence.

“The BIR remains steadfast in advancing fiscal discipline, institutional modernization and responsive public service for the benefit of the Filipino people,” it said.